Advanced Energy Announces Acquisition of LumaSense
"The acquisition of LumaSense will enhance our customers’ ability to better control critical parameters of thermal and material processes, leading to significant improvements in process performance, efficiency and waste reduction,” said
The acquisition of LumaSense:
- Expands Advanced Energy’s (AE) current electrostatic chuck solutions, including high voltage power supply and electrostatic metrology, with LumaSense’s Fluoroptic® temperature measurement technology
- Complements AE’s leading pyrometry solutions (e.g. Sekidenko™) with additional fiber optic thermometry for an extended range of semiconductor applications in etch and deposition
- Provides AE with a robust set of solutions for industrial pyrometry and gas sensing technologies
- Adds new integrated industrial temperature control and metrology applications in both thin films coating and thermal processing
“The close of the acquisition marks an exciting and transformative time for LumaSense as we officially join the Advanced Energy family,” said
Under the terms of the merger agreement, the aggregate consideration was approximately
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Advanced Energy Industries, Inc.
Advanced Energy Industries, Inc.
Advanced Energy’s non-GAAP measures exclude the impact of non-cash related charges such as stock-based compensation and amortization of intangible assets, as well as non-recurring items such as acquisition-related costs. Such non-GAAP measures are not in accordance with, or an alternative for, similar measures calculated under generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Advanced Energy believes that non-GAAP measures provide useful information to management and investors to evaluate business performance without the impacts of certain non-cash charges and other charges which are not part of the company’s usual operations. Advanced Energy uses non-GAAP measures to assess performance against business objectives, make business decisions, develop budgets, forecast future periods, assess trends and evaluate financial impacts of various scenarios. In addition, management's incentive plans include non-GAAP measures as criteria for achievements. Advanced Energy believes that non-GAAP measures, in combination with its financial results calculated in accordance with GAAP, provide investors with additional perspective. While some of the excluded items may be incurred and reflected in the Advanced Energy’s GAAP financial results in the foreseeable future, the company believes that the items excluded from certain non-GAAP measures do not accurately reflect the underlying performance of its continuing operations for the period in which they are incurred. The use of non-GAAP measures has limitations in that such measures do not reflect all of the amounts associated with the company’s results of operations as determined in accordance with GAAP, and these measures should only be used to evaluate the company’s results of operations in conjunction with the corresponding GAAP measures.
Certain statements in this press release, including, without limitation, statements regarding the transaction between Advanced Energy and LumaSense, aspirational targets and expected financial performance of LumaSense as combined with Advanced Energy’s Sekidenko product line, benefits and synergies of the combination, future opportunities for the combined company and the statements about Advanced Energy’s future expectations, beliefs, goals, plans, or prospects are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Any statements that are not statements of historical fact (including statements containing the words "will," "projects," "intends," "believes," "plans," "anticipates," "expects," "estimates," “aspire,” "forecasts," "continues" and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: (1) execution of the combined business plan to reach our revenue, non-GAAP operating income margin and cost synergy, aspirational goals over the three-year period; (2) the ability of Advanced Energy to successfully integrate LumaSense's operations and employees; (3) unexpected costs, charges or expenses resulting from the combination; (4) Advanced Energy’s ability to successfully grow LumaSense's business; (5) potential adverse reactions or changes to business relationships resulting from the completion of the transaction; (6) the retention of key employees; and (7) legislative, regulatory, tariff and economic developments, including changing business conditions in the semiconductor industry and industrial markets overall and the economy in general as well. These and other risks are described in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the
Source: Advanced Energy Industries, Inc.